Sri Lanka firm Malwatte Valley Plantations to invest in resort

Sri Lankan firm Malwatte Valley Plantations has announced its intention to invest US$26 million in a resort in the Maldives, consisting of 70 villas.

The company told the Colombo Stock Exchange that the project would begin in September and be completed in two years. The new property would be managed by the Hilton chain, following the signing of a Memorandum of Understanding (MoU).